Friday 1 July 2016

Kerry Group revenue grows to €6.1bn as trading profits jump 10pc

Published 23/02/2016 | 07:39

Stan McCarthy, CEO of the Kerry Group
Stan McCarthy, CEO of the Kerry Group

Kerry Group, the firm behind the Charleville, Dairygold, and Low Low brands, posted a trading profit of €700m last year, representing a 10pc increase on 2014.

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In the company's preliminary results published this morning, group revenue grew to €6.1bn, reflecting 3.8pc business volume growth.

Kerry's adjusted earnings per share grew by 8.2pc, up to 301.9c, while its total dividend for the year rose 11.1pc, up to 50c.

Speaking about the company's results Kerry chief executive, Stan McCarthy, said the firm expects further growth this year.

"In a record year of business development in 2015, the Group achieved a strong financial performance, delivering continued business margin expansion and 8.2pc growth in adjusted earnings per share.

"Our industry-leading technologies are well positioned to meet today's consumer and customer requirements. We expect to achieve 6pc to 10pc growth in adjusted earnings per share in 2016 taking into account a 3% currency headwind at today's exchange rates," Mr McCarthy said.

Revenue in the firm's taste and nutrition and consumer foods arms both increased.

Taste and nutrition experienced 4pc in volume growth, up to €4.7bn, while the consumer foods division rose 3pc, up to €1.5bn.

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